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John Wiley & Sons, Inc. (NYSE: WLY) is a globally-renowned provider of academic journals, books, pre- and post-hire assessments, training materials, test preparation resources, and online education program management solutions. Established in 1807, Wiley has been a trusted source of knowledge for over two centuries, playing a pivotal role in the fields of science, technology, medicine, and education. The company boasts a rich heritage, having published works by more than 400 Nobel Laureates across diverse categories including literature, economics, physiology or medicine, physics, chemistry, and peace.
Wiley’s core businesses encompass the publication of scientific, technical, medical, and scholarly journals, encyclopedias, books, and online products and services. Additionally, the company offers professional and trade books, subscription products, training materials, online applications, and educational content for undergraduate and graduate students as well as lifelong learners.
The company is strategically segmented into two primary business units: the Academic segment, which caters to university customers and includes Academic Publishing and University Services, and the Talent segment, which focuses on delivering training, sourcing, and upskilling solutions to corporate clients. Impressively, over 85% of Wiley’s total revenue is derived from digital products and tech-enabled services, underlining the company's adaptability in an increasingly digital world.
Headquartered in Hoboken, New Jersey, Wiley operates globally with significant presences in the U.S., Europe, Asia, Canada, and Australia. The company’s website, accessible at www.wiley.com, provides further insights into its vast array of services and offerings.
In recent news, Academic Partnerships (AP), a company that aids regional public universities in expanding their online programs, has agreed to acquire Wiley University Services. This merger is intended to support over 125 colleges and universities across 40 U.S. states and internationally. By combining efforts, the two entities aim to enhance access to affordable, high-quality, and workforce-relevant online education, particularly for working adults and professionals. This transaction, scheduled to close by early 2024, symbolizes a strategic shift towards a more focused Wiley, leveraging its competitive advantages and market opportunities in research and learning.
Wiley (NYSE: WLY and WLYB) has appointed Matthew Kissner as President and CEO following a successful nine-month interim period. Kissner, a long-time Wiley veteran, has driven significant progress in organizational improvement, value creation, and AI opportunities. Under his leadership, Wiley exceeded its Fiscal 2024 earnings guidance and delivered revenue at the higher end of its range. The company is targeting revenue, profit, and free cash flow growth in Fiscal 2025 and 2026, bolstered by business momentum and cost savings. Kissner's extensive experience includes leadership roles at Pitney Bowes, Bankers Trust, Citibank, and Morgan Stanley.
Wiley (NYSE: WLY, WLYB) has declared a quarterly cash dividend of $0.3525 per share, payable on July 25, 2024, to shareholders of record on July 9, 2024. This marks the 31st consecutive annual dividend increase, now totaling $1.41 per share annually, up from $1.40 in Fiscal 2024.
The company exceeded its Fiscal 2024 earnings guidance, with Adjusted EBITDA and Adjusted EPS surpassing expectations and Adjusted Revenue at the higher end of the range. Wiley completed a GenAI content rights project with a major tech company in Q4 Fiscal 2024 and another project with a second large tech company for Fiscal 2025. The Value Creation Plan saw progress with two non-core divestitures and $90 million of the targeted $130 million run-rate savings actioned.
For Fiscal 2025, Wiley aims to sustain growth driven by momentum in Research and Learning and accelerated cost savings.
Wiley (NYSE: WLY) reported its fourth quarter and fiscal year 2024 results, exceeding its earnings guidance with a positive outlook for FY25. The fiscal year saw significant restructuring, including divesting non-core assets and achieving $90 million in cost savings. Adjusted revenue for FY24 was $1.617 billion, a slight decline of 1%, while adjusted EBITDA was $369 million, down 3%. The research segment faced a 3% revenue drop, while the learning segment grew by 5%, driven by digital content and a GenAI project. Wiley expects FY25 adjusted revenue of $1.650 to $1.690 billion and adjusted EPS of $3.25 to $3.60.
Wiley (NYSE: WLY and WLYB), a leading global publisher and research entity, will announce its fourth quarter and full-year 2024 financial results on June 13, 2024, before the market opens.
The company has scheduled a conference call at 10am ET to discuss these results.
The event will be accessible via a live webcast and presentation slides on Wiley’s Investor Relations website.
For those unable to attend live, an archive of the webcast, presentation, and transcript will be available for one year.
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